BSMQ vs. LMUB
BSMQ (Invesco BulletShares 2026 Municipal Bond ETF) and LMUB (iShares Long-Term National Muni Bond ETF) are both Municipal Bonds funds - BSMQ tracks the Invesco BulletShares Municipal Bond 2026 Index while LMUB tracks the ICE AMT-Free US Long National Municipal Index. Both are passively managed. Over the past year, BSMQ returned 2.98% vs 9.36% for LMUB. At a 0.25 correlation, their price movements are largely independent. BSMQ charges 0.18%/yr vs 0.09%/yr for LMUB.
Performance
BSMQ vs. LMUB - Performance Comparison
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Returns By Period
In the year-to-date period, BSMQ achieves a 0.81% return, which is significantly lower than LMUB's 2.42% return.
BSMQ
- 1D
- 0.07%
- 1M
- 0.17%
- YTD
- 0.81%
- 6M
- 1.18%
- 1Y
- 2.98%
- 3Y*
- 2.90%
- 5Y*
- 0.31%
- 10Y*
- —
LMUB
- 1D
- 0.10%
- 1M
- 0.96%
- YTD
- 2.42%
- 6M
- 3.09%
- 1Y
- 9.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BSMQ vs. LMUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 0.81% | 2.18% |
LMUB iShares Long-Term National Muni Bond ETF | 2.42% | 3.52% |
Correlation
The correlation between BSMQ and LMUB is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2025 | 0.25 |
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Return for Risk
BSMQ vs. LMUB — Risk / Return Rank
BSMQ
LMUB
BSMQ vs. LMUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) and iShares Long-Term National Muni Bond ETF (LMUB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BSMQ | LMUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.45 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 9.12 | 3.02 | +6.11 |
| Martin ratioReturn relative to average drawdown | 23.88 | 10.59 | +13.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BSMQ | LMUB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.26 | 2.23 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.83 | -0.59 |
Drawdowns
BSMQ vs. LMUB - Drawdown Comparison
The maximum BSMQ drawdown since its inception was -13.18%, which is greater than LMUB's maximum drawdown of -5.51%. Use the drawdown chart below to compare losses from any high point for BSMQ and LMUB.
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Drawdown Indicators
| BSMQ | LMUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.18% | -5.51% | -7.67% |
Max Drawdown (1Y)Largest decline over 1 year | -0.33% | -3.11% | +2.78% |
Max Drawdown (3Y)Largest decline over 3 years | -2.53% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -11.50% | — | — |
Current DrawdownCurrent decline from peak | -0.05% | 0.00% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -1.60% | -1.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.12% | 0.89% | -0.77% |
Volatility
BSMQ vs. LMUB - Volatility Comparison
The current volatility for Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) is 0.40%, while iShares Long-Term National Muni Bond ETF (LMUB) has a volatility of 1.44%. This indicates that BSMQ experiences smaller price fluctuations and is considered to be less risky than LMUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMQ | LMUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.40% | 1.44% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 0.94% | 3.04% | -2.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.33% | 4.21% | -2.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.68% | 5.96% | -3.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.79% | 5.96% | -1.17% |
BSMQ vs. LMUB - Expense Ratio Comparison
BSMQ has a 0.18% expense ratio, which is higher than LMUB's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BSMQ vs. LMUB - Dividend Comparison
BSMQ's dividend yield for the trailing twelve months is around 2.76%, less than LMUB's 3.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 2.76% | 2.74% | 2.75% | 2.47% | 1.60% | 1.14% | 1.57% | 0.44% |
LMUB iShares Long-Term National Muni Bond ETF | 3.77% | 3.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BSMQ and LMUB have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LMUB has higher volatility (1.44%) compared to BSMQ (0.40%). In terms of maximum drawdown, BSMQ dropped -13.18% vs LMUB's -5.51%.
On 1-year performance, LMUB leads with 9.36% vs 2.98% for BSMQ. On fees, LMUB is cheaper at 0.09% per year. On volatility, BSMQ has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, LMUB has performed better with a 9.36% return vs 2.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LMUB is cheaper with a 0.09% expense ratio, compared with 0.18% for BSMQ.
LMUB has the higher dividend yield at 3.77%, compared with 2.76% for BSMQ.
BSMQ tracks Invesco BulletShares Municipal Bond 2026 Index, while LMUB tracks ICE AMT-Free US Long National Municipal Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.18% for BSMQ and 0.09% for LMUB.
BSMQ currently has the higher Sharpe Ratio (2.26 vs 2.23), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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